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The Chase Sapphire Preferred® is a great starter credit card for anyone looking to earn travel rewards. You’ll earn points for each dollar you spend, and if you spend the money on travel, you’ll increase your bonuses.
Is the Chase Sapphire Preferred® card worth it? Check out my review below.
The Chase Sapphire Preferred® Card is one of the best credit cards for travelers.
Not only can you earn 2 Ultimate Rewards points per dollar for travel and dining, but if you redeem your points for travel, you’ll earn 25% more than if you redeemed the points for cash.
The Chase Sapphire Preferred® Card is universally good for newbies, getting used to how travel reward credit cards work, as well as experts looking to expand their points earnings.
With numerous bonuses available and a mere $95 annual fee, it’s easy to see why millions use and love the Chase Sapphire Preferred® Card.
Chase Sapphire Preferred® pays cardholders an attractive signup bonus. If you use the bonus points (80,000 points) for travel, you’ll maximize the earnings as you can earn 1.25% for the rewards, so an extra $200 for 80,000 points ($1,000 versus $800 for other expenses).
The DoorDash DashPass subscription is worth $9.99 a month and entitles you to free delivery on your DoorDash purchases.
All you have to do is order at least $12 in food, and you won’t pay a delivery fee and will pay reduced service fees.
If items you bought with your Chase Sapphire Preferred® card become damaged or stolen within 120 days of purchase, Chase Sapphire will reimburse you for replacement or repair.
You don’t even have to pay for the entire purchase with your Chase card. As long as you paid for a part of it with the card or Chase Sapphire points, it may qualify.
The purchase protection policy covers you up to $500 per occurrence and up to $50,000 for your lifetime.
Purchase made with your Chase Sapphire Preferred® card with a manufacturer’s 3 years or less warranty will receive an additional one-year warranty from Chase.
Like Purchase Protection, you must charge at least a part of the product on your Chase card.
If you have a rewards program with one of the following, you can transfer your Chase Sapphire Preferred® points to them to maximize your use, but we recommend only doing this if you have an immediate use for the points.
Calculate the value of the points before transferring them too, ensuring you’ll earn at least $0.01 per point or you’ll lose money transferring them.
Chase Sapphire points work with:
Chase Ultimate Rewards® cardholders who refer friends once you have a card. You can earn up to 15,000 bonus points per friend referred, up to 75,000 points annually.
Increase your rewards potential by redeeming points for travel rewards or during a Pay Yourself Back promotion. Both redemptions offer 25% more in points, making your points worth $0.0125 rather than $0.01.
100,000 points, for example, would be worth $1,000 in cash or $1,250 in travel rewards or a statement credit if you make an eligible purchase within the 90-day period before you redeem the points.
If you redeem your points for anything but travel, you’ll earn a measly 1 point per dollar spent, which equals $0.01 per dollar in rewards.
Like most reward credit cards, Chase Sapphire Preferred® requires a $95 annual fee.
If you redeem your points for travel (highly recommended), you must redeem them through the Chase Travel Portal.
You’ll get 1.25% per point and not have to deal with blackout dates. If there’s room on the plane or a room at the hotel, you can book it – you don’t have to worry about allotted spaces for rewards members – anything that is available in the portal is available for you to use.
If you still aren’t traveling but want to use your points, you can use them to ‘Pay Yourself Back’ or give yourself a statement credit.
If you use the statement credit for purchases made ineligible categories or at eligible retailers, you’ll earn 1.25% for each point, giving you the same value as if you used it for traveling.
If you prefer, you can also transfer your points to partner companies, combining your rewards points with other travel partners’ rewards to maximize your opportunity to save on travel.
The Chase Sapphire Reserve® card is a step up from the Preferred® card, and it shows in its $550 annual fee. The Reserve®is for serious travelers and includes 3x points per dollar spent on travel and dining, but 1x points per dollar spent in other categories.
If you redeem points in the Chase Travel Portal, you’ll earn 1.5 times points, and you’ll automatically earn a $300 credit annually on travel spending.
Chase offers a 60,000 bonus if you spend $4,000 in the first three months, which is equal to $900 in travel rewards.
The American Express® Gold Card is another rewards credit card with a higher annual fee of $250 per year.
The AMEX is best for people who dine out often or spend a lot at the grocery store as that’s where you’ll see a majority of your rewards.
The American Express® Gold Card earns 4 points per dollar at restaurants and supermarkets and 3 points per dollar spent on airline tickets.
All other purchases earn 1 point per dollar spent. AMEX offers a 60,000-bonus point offer if you spend $4,000 in the first six months.
The Capital One Venture Rewards Credit Card has the same annual fee as the Chase Sapphire Preferred® of $95, and it pays 2 points per dollar on every purchase, not just travel or food.
You need to spend $20,000 in the first year to earn the 100,000 bonus points, or you can earn 50,000 points with $3,000 spent in the first 3 months.
The Capital One Venture Rewards Credit Card has a great partner transfer program with over 10 partner companies, and it includes a $100 credit for TSA precheck.
As long as you use the Chase Sapphire Preferred® enough to earn more bonus points than the annual fee ($95), it’s worth it.
The bonus points, extra perks, and earning potential are great, especially if you spend a lot on traveling or dining out.
If you’ll use the credit card for travel and dining purchases, it is a good credit card. The annual fee isn’t too steep, and the rewards are good for people who travel or dine out often.
If you have rewards programs with one of the partner programs, it can be a great way to double up and make the most out of your rewards.
The Chase Sapphire Preferred® card requires ‘excellent’ credit, which usually means a score over 700, but you may get approved with a credit score of 650 or higher.
Your points won’t expire as long as your credit card is active. If you have the credit card, you should use it to make the annual fee worth it, so in short, the points don’t expire unless you stop using the card.
If you redeem your points for anything but travel, your points are worth $0.01 per dollar. But, if you redeem your points for travel, they are worth $0.125 per dollar. This is the equivalent of $1,000 for 100,000 points or $1,250 respectively.
Chase doesn’t make it impossible to qualify for the Chase Sapphire Preferred® card, but they do want ‘good’ credit, usually over 700, and you can’t have applied for 5 Chase credit cards in the last 24 months to qualify.
If you don’t have a travel rewards card yet, the Chase Sapphire Preferred® is a great place to start. At only $95 per year and with plenty of reward opportunities, you’ll make your money back and earn some hefty rewards just for using your credit card.